Homewares focus fails to lift sales
Interim results from fashion and homewares retailer Laura Ashley show that the retail climate continues to take its toll on the group.

Despite a renewed focus on home furnishings, total UK sales were down by 15.6 per cent. Like-for like sales also fell 11.8 per cent and the group reported a pre-tax loss of£400,000.

Chief executive Lillian Tan said: 'Although we go into the second half with our business in better shape than before, market conditions on the UK high street remain extremely difficult. Our performance will depend upon how consumer confidence progresses in the coming months.'

At the beginning of the year, Laura Ashley, majority owned by Malaysian entrepreneur Dr Khoo Kay Peng, parted company with its 10th chief executive in 14 years.

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